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Saturday, March 13, 2010

British law firm 'conspired' to hide $50bn debts of Wall St giant http://www.dailymail.co.uk/news/article-1257350/Lehman-Brothers-bosses-manipulated-balance-sheet-accounting-tricks-scathing-report-finds.html

A top British law firm helped stricken banking giant Lehman Brothers hide its debts in the run-up to the bank's collapse, a report said yesterday.Linklaters, one of the City's 'magic circle' law practices, signed off questionable accounting techniques to disguise $50billion (£36billion) debts.The 2,200-page report, published yesterday in America, found that Linklaters allowed 'balance sheet manipulation' while investors remained in the dark as to what was going on.

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